Italy offers to pay people £12,700 to move to picturesque holiday island of Sardinia

24 August 2022, 18:02

The government of Sardinia is offering grants of up to €15,000 to entice homebuyers to relocate and populate more rural parts of the island.

The Italian government created the £38million scheme to incentivise residents to relocate to rural areas in a bid to boost local commerce.

Under the new plans, homebuyers who relocate will be offered considerable financial aid of up to the equivalent of £12,700.

Despite being known for its long stretches of picturesque beaches, the second largest island in the Mediterranean has a declining population with young people moving to the mainland in search of better work opportunities.

Sardinian president Christian Solinas said: "Thanks to the contributions to their first houses, this is strengthened and becomes fertile ground for those who will move there or decide to build a family.

"There can be no growth without a real enhancement of the territories, of the interior and most disadvantaged areas, which must pass through new policies for their repopulation."

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He added: "We have created the conditions for young people to decide to stay and develop the economic fabric of the most fragile territories."

The government hopes to attract homebuyers to older properties which they can renovate and then create businesses from.

Under the scheme the grant money can only be used to fund the purchase or renovation of a home in Sardinia in an area where the population is under 3,000 people.

Home buyers claiming the cash must also live in the house on a full-time basis and register for permanent residence within 18 months of arriving on the island.

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But the €15,000 grant cannot surpass half of the total cost of the property or planned renovations, meaning homebuyers will still need to shell out more than €15,000 from their own pocket in order to claim the cash.

The European Commission said in a statement: "The DL 50/2022 law allows migrant workers to apply for the bonus, as long as they were residing in Italy before July 1 2022, and all income requirements are met.

"Domestic workers can apply for the bonus directly on the [national social security institute] portal by 30 September 2022."